Laboratory Corporation of America Holdings (NYSE:LH) Given Buy Rating at Craig Hallum

Craig Hallum reaffirmed their buy rating on shares of Laboratory Corporation of America Holdings (NYSE:LH) in a research note issued to investors on Thursday, October 26th, The Fly reports. Craig Hallum currently has a $180.00 price objective on the medical research company’s stock, up from their prior price objective of $175.00.

LH has been the subject of a number of other reports. Zacks Investment Research raised Laboratory Corporation of America Holdings from a sell rating to a hold rating in a research note on Thursday, July 27th. Barclays PLC lifted their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an overweight rating in a report on Thursday, July 27th. Jefferies Group LLC restated a hold rating and set a $170.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Wednesday, September 13th. ValuEngine upgraded Laboratory Corporation of America Holdings from a hold rating to a buy rating in a report on Wednesday, September 6th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at $150.46 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. Laboratory Corporation of America Holdings has a one year low of $123.36 and a one year high of $164.22. The stock has a market cap of $15,410.00, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company earned $2.25 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. equities research analysts predict that Laboratory Corporation of America Holdings will post 9.52 EPS for the current fiscal year.

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In other news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total value of $20,843,903.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight Gary Gilliland sold 971 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of the transaction, the director now owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,871 shares of company stock worth $32,892,005. Corporate insiders own 0.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its stake in Laboratory Corporation of America Holdings by 3.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 345,817 shares of the medical research company’s stock valued at $52,208,000 after buying an additional 10,311 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Laboratory Corporation of America Holdings by 66.9% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 2,440 shares of the medical research company’s stock valued at $369,000 after buying an additional 978 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Laboratory Corporation of America Holdings by 1.9% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 226,528 shares of the medical research company’s stock valued at $34,199,000 after buying an additional 4,162 shares during the last quarter. WINTON GROUP Ltd raised its stake in Laboratory Corporation of America Holdings by 17.7% during the third quarter. WINTON GROUP Ltd now owns 5,344 shares of the medical research company’s stock valued at $807,000 after buying an additional 805 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Laboratory Corporation of America Holdings by 3.3% during the third quarter. Amalgamated Bank now owns 11,714 shares of the medical research company’s stock valued at $1,768,000 after buying an additional 373 shares during the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

The Fly

Analyst Recommendations for Laboratory Corporation of America Holdings (NYSE:LH)

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